Business Succession Plan Lawyers Columbus Ohio
James E. Arnold & Associates, LPA, is a Columbus, Ohio law firm that also serves the Cleveland, Cincinnati, and Dayton areas. We are adept at the complexities of helping our clients with business succession planning.
When you create a business succession plan with a lawyer, you’ll get peace of mind that your company will be in the right person’s hands when you retire, or if you fall ill or die unexpectedly. James E. Arnold & Associates, LPA, is a Columbus, Ohio law firm that also serves the Cleveland, Cincinnati, and Dayton areas. We are adept at the complexities of helping our clients with business succession planning.
What is succession planning?
If you have a business, this plan explains who you will turn your business over to when you no longer own it.
Why do you need a business succession plan?
The future of a business is never certain; however, we can guide you in the steps you can take to ensure that a business lasts. A business succession plan is crucial to your company’s longevity and success.
Options for creating a succession plan for your company
Regardless of your ultimate objective with your business, we can provide advice and a variety of tools and strategies to bring your goals to reality.
- Your business remains in your family for generations
- You sell the business and retire
- Key personnel rise to management or ownership of the company
What are the future goals for your business after you retire?
We take the time to understand your goals and fears regarding the future of your business. Relationships with family members and employees are an especially important dynamic to understand and navigate in any business transition. Leadership identification, development and training, as well as family business councils and advisory boards can help with these matters. We have experience in handling these personal issues in addition to the legal ones in implementing a succession plan that will be successful.
How to plan an exit strategy for your business
If your intention is an exit strategy, contact James E. Arnold & Associates, LPA. We’ve represented numerous individuals and businesses with sales to other owners, employees, and third parties, including strategic buyers and private equity groups. Whether you choose to pass your business down to the next generation or sell the business, we can advise on how to minimize the taxes that each option brings.